Consumer & DIY is the fastest-growing application of the hot melt adhesive tapes market

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

The market size of hot melt adhesive tapes is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, during the forecast period. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region. Growing packaging market in emerging economies is a key factor providing growth opportunities to the market.

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The demand for hot melt adhesive tapes has increased in APAC countries, such as South Korea, Singapore, India, and Indonesia, as the application activities in these countries have risen. China has been the driving force for the rapid expansion of the adhesive tapes market, not only in APAC, but also worldwide. In several countries, the factors affecting the packaging, which is a major application of hot melt adhesive tapes, are the increasing level of disposable income and population growth. These factors are positively influencing the hot melt adhesive tapes market growth.

Recent Developments
In December 2016, LINTEC Corporation acquired MACtac Americas Holdings, LLC, manufacturer and distributor of adhesive papers and films for printing in the US to get a full-scale entry into the North American market.
In July 2016, the company made a USD 20 million expansion by adding 24,000 square feet to its current Sparta facility. This facility is expected to add to the production of strapping tapes and acrylic adhesives, which will be used for healthcare applications of the hot melt-based adhesive tapes.

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The increasing adoption of hot melt adhesive technology is also leading to the growth of Hot Melt Adhesive Tapes Market

The hot melt adhesive tapes market is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%. APAC is the largest consumer of hot melt adhesive tapes. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138739970

Consumer & DIY is the fastest-growing application of the hot melt adhesive tapes market

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

The demand for hot melt adhesive tapes has increased in other APAC countries, such as South Korea, Singapore, India, and Indonesia, as the application activities in these countries have risen. China has been the driving force for the rapid expansion of the adhesive tapes market, not only in APAC, but also worldwide. In several countries, the factors affecting the packaging, which is a major application of hot melt adhesive tapes, are the increasing level of disposable income and population growth. These factors are positively influencing the hot melt adhesive tapes market growth.

Key players profiled in the hot melt adhesive tapes market report include The 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), Intertape Polymer Group Inc. (Canada), Shurtape Technologies, LLC (US), Scapa Group plc (UK), LINTEC Corporation (Japan), ACHEM Technology Corporation (Taiwan), and TE Connectivity Ltd (Switzerland).

Avery Dennison Corporation (US) is one of the major companies in the global hot melt adhesive tapes market. The company achieved this position after several successful small and big acquisitions and expansion activities. The acquisition of Mactac’s European business, a leading manufacturer of high-quality, pressure-sensitive materials, catering to several high-value segments, including graphics, specialty labels, and industrial tapes, in 2016, was the major acquisition of the company. The acquisition enhanced the company’s competitiveness in the hot melt adhesive tapes market in Europe.

Intertape Polymer Group (Canada), which was founded in 1991, is a leading player in hot melt adhesive tapes market. The company develops, manufactures, and supplies a variety of paper and film-based pressure-sensitive and water-activated tapes, polyolefin films, woven fabrics, and complementary packaging systems for industrial and retail applications. The company offers products for aerospace, automotive, and industrial applications. It has operations in 17 locations, including 12 manufacturing facilities in North America and 1 in Europe. The company, with its products, caters to a number of countries, including Canada, Germany, and the US. After acquiring all the assets of Canadian Technical Tape Ltd., Intertape will be able to improve its distribution channel and add value to its products.

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Rising demand from emerging economies is expected to drive the hot melt adhesive tapes market

The market size of hot melt adhesive tapes is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, during the forecast period. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region. Growing packaging market in emerging economies is a key factor providing growth opportunities to the market.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138739970

APAC is expected to be the largest and fastest-growing hot melt adhesive tapes market. The demand for hot melt adhesive tapes has increased in other APAC countries, such as South Korea, Singapore, India, and Indonesia, as the application activities in these countries have risen. China has been the driving force for the rapid expansion of the adhesive tapes market, not only in APAC, but also worldwide. In several countries, the factors affecting the packaging, which is a major application of hot melt adhesive tapes, are the increasing level of disposable income and population growth. This growth is driven by rapidly rising household income and the fast-growing middle-class population, which has boosted the demand in packaging and DIY, among other applications, in the hot melt adhesive tapes market. These factors are positively influencing the hot melt adhesive tapes market growth.

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

Key players profiled in the hot melt adhesive tapes market report include The 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), Intertape Polymer Group Inc. (Canada), Shurtape Technologies, LLC (US), Scapa Group plc (UK), LINTEC Corporation (Japan), ACHEM Technology Corporation (Taiwan), and TE Connectivity Ltd (Switzerland).


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Avery Dennison Corporation (US) and Intertape Polymer Group (Canada) are the Key Players in the Hot Melt Adhesive Tapes Market

The hot melt adhesive tapes market is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, between 2019 and 2024. APAC is the largest consumer of hot melt adhesive tapes. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region.

The key players operating in the market are the 3M Company (US), Nitto Denko Corporation (Japan), tesa SE (Germany), Avery Dennison Corporation (US), and Intertape Polymer Group Inc. (Canada). These players have adopted various strategies, such as merger & acquisition, investment & expansion, and new product launch, to grow in the market. Mergers & acquisition was the key strategy adopted by the major players, between 2015 and 2019, to enhance their market shares and expand their global presence.

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Avery Dennison Corporation (US) is one of the major companies in the global hot melt adhesive tapes market. The company achieved this position after several successful small and big acquisitions and expansion activities. The acquisition of Mactac’s European business, a leading manufacturer of high-quality, pressure-sensitive materials, catering to several high-value segments, including graphics, specialty labels, and industrial tapes, in 2016, was the major acquisition of the company. The acquisition enhanced the company’s competitiveness in the hot melt adhesive tapes market in Europe.

Intertape Polymer Group (Canada), which was founded in 1991, is a leading player in hot melt adhesive tapes market. The company develops, manufactures, and supplies a variety of paper and film-based pressure-sensitive and water-activated tapes, polyolefin films, woven fabrics, and complementary packaging systems for industrial and retail applications. The company offers products for aerospace, automotive, and industrial applications. It has operations in 17 locations, including 12 manufacturing facilities in North America and 1 in Europe. The company, with its products, caters to a number of countries, including Canada, Germany, and the US. After acquiring all the assets of Canadian Technical Tape Ltd., Intertape will be able to improve its distribution channel and add value to its products.

Avery Dennison Corporation (US) and Intertape Polymer Group (Canada) are the Key Players in the Hot Melt Adhesive Tapes Market

The market size of hot melt adhesive tapes is projected to grow from USD 15.5 billion in 2019 to USD 21.7 billion by 2024, at a CAGR of 7.0%, during the forecast period. The global hot melt adhesive tapes market is witnessing high growth on account of increasing applications, technological advancements, and growing demand in the APAC region. Growing packaging market in emerging economies is a key factor providing growth opportunities to the market.

Download the PDF Brochure @https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138739970

Consumer & DIY is the fastest-growing application of the hot melt adhesive tapes market.

Increasing public awareness for DIY is fueling the use of these tapes in different activities, such as gardening, crafting, and small construction & furniture projects. A majority of these tapes are used for different office and household applications. The consumer & DIY applications of hot melt adhesive tapes include temporary repairing of rips on any kind of surface, sealing of leaks and holes, temporary mounting of damaged components of cars and automobiles, jointing of broken components of various tools, sealing, and packaging. Hence, the demand for consumer & DIY applications is high in the hot melt adhesive tapes market.

Recent Developments

• In December 2016, LINTEC Corporation acquired MACtac Americas Holdings, LLC, manufacturer and distributor of adhesive papers and films for printing in the US to get a full-scale entry into the North American market.
• In July 2016, the company made a USD 20 million expansion by adding 24,000 square feet to its current Sparta facility. This facility is expected to add to the production of strapping tapes and acrylic adhesives, which will be used for healthcare applications of the hot melt-based adhesive tapes.

The increasing adoption of hot melt adhesive technology is also leading to the growth of the market.